That looks like a hanging man doji candle. We opened flat and never made it up to the Sept. high. Lets look at the SPY daily chart tonight.
There is a combination of a hanging man yesterday and a doji bar today. The doji bar is also a hanging man as well. This combination has been named the Shanghai Duo (thanks for the reminder Herm). This is not a real well known combination, but can be an important top or bottom pattern. With an extremely overbought market it might mean it is time for a pullback. A close below today's low should be confirmation a move down has started.
We are at an important juncture here. A retest of the Sept. high with very bullish sentiment could be a recipe for a bigger pullback then many expect. This really looks and feels like an important top to me. I guess we will see. Maybe I am just crazy, LOL.
Chart practice has been updated with QQQ the stock for today.
http://traderbob58-chart-practice.blogspot.com/
Bob
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